It is exceedingly rare for an annuity not to pay their guarantee. Often, the annuity business of a life insurance company is the most well-funded. Add to this fact that the State will back-stop at least $100k (I think that is the minimum in most if not all states), and you have a fairly safe option.

I wonder if that $100,000 guarantee is a cumulative total or a per-account guarantee? It would be nice to invest in three separate $100,000 annuities (rather than one $300,000 annuity) and, in effect, have the full $300,000 guaranteed.

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